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data shows that the past week was the worst week for u.s. stocks since march 2023. in addition, the u.s. bond market also experienced sharp fluctuations. the much-anticipated u.s. job market update data was weak, exacerbating people's concerns about the economy. after more than a year of raising interest rates, the federal reserve will shift its focus to protecting the job market and preventing an economic recession. market participants said that the last way to avoid risks is still "cash is king."

according to cctv news, a magnitude 4.3 earthquake occurred off the coast of miyako island, okinawa prefecture, japan at around 23:01 local time on september 7. the maximum tremor was 2 and the focal depth was 50 kilometers.

the market reiterates that “cash is king”

on friday local time, the poor performance of the us non-farm payrolls report in august caused a large divergence in the market on the extent of the interest rate cut. us stocks plummeted, bitcoin fell, crude oil plunged, and the safe-haven asset gold also fell sharply.

zerohedge, a u.s. financial blog portal, commented that putting friday's plunge together with this week's plunge, it can be said that this plunge is even worse than august 5 (black monday). because that was just one day of severe pain, by the end of that week, the stock market had rebounded sharply. however, this time, the pain has just begun. the week started badly and ended up being even worse.

amid the continuous decline, the us dollar rose slightly amid fluctuations. market participants said that the last way to avoid risks is still "cash is king".

analysts generally expect cpi and core cpi to rise 0.2% month-on-month. if inflation data exceeds expectations, it may lead to an increase in us treasury yields, which will suppress gold prices. conversely, data below expectations will support gold. if cpi data unexpectedly rises, the us dollar may continue to be supported in the short term.

in fact, buffett has already demonstrated that "cash is king". on the evening of august 3rd, beijing time, berkshire hathaway (hereinafter referred to as "berkshire") released its second quarter report for 2024. the financial report data showed that berkshire's cash reserves hit a record high of us$276.9 billion in the second quarter, compared with us$189 billion at the end of the previous quarter.

at the 2024 annual shareholder meeting, buffett said that holding a large amount of cash is "quite attractive" relative to the available funds in the stock market and conflicts around the world. "we are happy to spend money, but it must be (a business to acquire or invest in) that is doing something with little risk and can make us a lot of money."

nvidia's market value evaporated by $406 billion in a week

exceeds the combined market value of amd and qualcomm

the quarterly report released by global chip giant nvidia at the end of august triggered a negative market reaction, and its stock price momentum weakened significantly. not only that, nvidia itself is also facing a series of challenges, including the delayed release of the new product blackwell and the pressure on gross profit margin. these fundamental factors have a negative impact on the company's short-term performance. in addition, nvidia is facing increasingly fierce competition in the artificial intelligence and accelerated computing markets.

nvidia's stock price fell more than 4% on the 6th, marking its worst weekly performance in two years. the company's market value has shrunk by $406 billion in the past week alone, exceeding the combined market value of amd and qualcomm.

image source: wind

the significant correction in the stock price highlights the market's concerns about the uncertainty of nvidia's future prospects, driving the stock market to weaken and casting a shadow on the global chip market and the u.s. economy. analysts believe that nvidia's stock price decline is a direct reflection of the market's concerns about the technology bubble, and also indicates that the technology industry may face greater pressure in the future.

it is worth noting that data submitted by nvidia to the u.s. securities and exchange commission on the 5th showed that nvidia ceo huang renxun sold nearly 5.3 million shares of nvidia common stock between june 13 and september 5, worth about $630 million. as nvidia's largest individual shareholder, huang renxun held approximately 93.5 million shares as of march 25, accounting for approximately 3.8% of the company's total outstanding shares.

mizuho securities analyst jordan klein said on the 6th that nvidia's stock price is not expected to return to above $130 per share in the next few weeks. chip stocks as a whole seem to be stuck in a quagmire and are expected to continue to fall.

boeing's starliner spacecraft returns to earth without people on board

according to a report by xinhua news agency on september 7, the us boeing's "starliner" spacecraft, which encountered a technical failure, returned to earth without people on board in the early morning of the 7th and landed in the white sands spaceport area in new mexico, usa.

the starliner took off on june 5 with american astronauts wilmore and williams and arrived at the international space station on june 6. this was the first manned test flight mission of the starliner. the spacecraft was originally scheduled to leave the space station and return to earth on june 14, but due to problems such as thruster failure and helium leakage, the return time was repeatedly postponed. for safety reasons, nasa decided to let the starliner leave the international space station on september 6 and return to earth without people, and the two astronauts will return to earth in february next year on the dragon spacecraft of the us space exploration technology company.